Tenancy Agreement- Types & Its Legalities in India
Introduction “Tenancy Agreement” refers to an official document that states terms and conditions which are agreed upon by the landlord and the tenant. The said terms and conditions govern the lease or rent partnership that has been, hence are enforceable by law. Generally, there are three types of Tenancy Agreements, namely, Rent Agreement, Lease Agreement, and Leave and License agreement. Let’s delve into different types of Tenancy Agreements: Rent Agreement: It is a legal contract which is entered between an owner of a property and a tenant who wants to take temporary possession of a specified property. The agreement contains various details, such as the name of the property owner and the tenant, description of the property, amount of rent to be paid by the tenant, grace...